Tuesday, 09 May 2023 08:30 AM
Company Update
NEWARK, DE / ACCESSWIRE / May 9, 2023 / The global IV infusion Bottle Seals and Caps Market size is predicted to cross a valuation of US$ 168.0 Million in 2023. It is slated to garner a valuation of US$ 283.9 Million by 2033. The market is expected to exhibit a modest CAGR of 5.4% from 2023 to 2033.
The market for IV infusion bottle seals & caps is expanding as a result of the aging population and increased per capita health spending. The market for IV infusion bottle seals & caps is anticipated to increase as a result of the rising incidence of chronic diseases and the rising acceptance of parenteral nutrition therapy. Parenteral packaging solutions are expected to be in high demand in the years to come. This trend is anticipated to eventually drive the market for IV infusion bottle seals and caps throughout the projected period.
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The need for an effective medicine administration system is fueled by the many illnesses that older people experience. Drugs administered intravenously (IV) are preferred over those administered orally since the former produces effective outcomes faster and more accurately. The preference for IV administration is anticipated to be directly influenced by consumer generosity, driving the growth of the IV infusion bottle seals & caps market throughout the course of the projected period. Furthermore, market growth is anticipated to be boosted by printing technology advances. The industry's growing automation will probably amplify technical advancements in the upcoming years.
North America is anticipated to dominate the global market shares. A strong healthcare system and the persistent search for the best medical polymers aid regional growth. The increased improvements in pharmaceutical plastic bottles are also contributing to market expansion in North America. Leading companies in the IV infusion bottle seals and caps market are attempting to expand their worldwide reach. They are emphasizing maximizing their return on investment by implementing an outsourcing approach. To reduce their operating, logistical, and transportation costs, North American pharmaceutical packaging industries collaborate with East Asian and South Asian businesses.
Key Takeaways:
- The global IV infusion bottle seals and caps market size stood at US$ 132.2 Million in 2018.
- From 2018 to 2022, the market expanded at a moderate CAGR of 4.8%.
- In 2022, the market size stood at US$ 159.6 Million.
- The PP caps segment by product captured 61.8% of market shares in 2022.
- The neck size 21 to 28 mm segment garnered 65.6% market shares in 2022.
- North America occupied 32.6% market share in 2022.
- The United States IV infusion bottle seals and caps market captured 30.2% market shares in 2022.
- Europe IV infusion bottle seals and caps market accounted for 30.9% of global market shares in 2022.
Recent Developments Observed by FMI:
- In 2021, Cardinal Health stated that CVS Health has extended the terms of its contracts for the delivery of medicines to retail pharmacies and distribution centers through June 30, 2027.
Key Players in this Market:
- B. Braun Medical Inc.
- RENOLITSE
- Medline Industries Inc.
- Wuxi Qitian Medical Technology Inc.
- Prasad Meditech
- Taiwan Hon Chuan Enterprise
- Jiangsu Changjiang Lids
- Cardinal Health Inc.
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Market Segmentation:
By Product:
- PP Caps
- Rubber Seals
By Neck Size:
- Up to 20 mm
- 21 to 28 mm
- 29 to 32 mm
- Above 32 mm
By Application:
- Packaging
- Cups & Lids
- Trays
- Boxes & Cartons
- Pouches & Sachets
- Labels
- Blisters & Clamshells
- Wraps
- Tapes
- Printing
Table of Content (ToC):
1. Executive Summary | IV Infusion Bottle Seals & Caps Market
1.1. Global Market Outlook
1.2. Demand-side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
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